Dec 3, 2013 6:30pm PST
.com/nbr. >>> in detroit, the city becomes the largest to enter bankruptcy. what happens next? >> auto makers symbol of detroit's economy sold more cars than expected in november. but can the pace of sales continue into the new year? >> and falling behind, american students are lagging other nations in reading, math and science. what changes need to be made to ensure future generations can compete in a global economy? we have that and more tonight on "nightly business report" for this tuesday, december 3rd. >>> good evening everyone and welcome. i'm tyler mathisen. remember how great the month november was for stock investors, records and consecutive weeks of gains? hold that thought because so far december has gone the other way. fast. in fact, the dow and s&p 500 today ended lower for a third straight session. logging their biggest three-day decline in two months. some on wall street say stock prices are too high and they are taking profits and there is a pull back and this is the start of it, or maybe consumer spending, soggy so far this holiday season or the fed's seeing the blowout auto sales?
Dec 4, 2013 6:30pm PST
from washington. >>> still ahead, how safe is your pension whether you work for a city, state or private company? >>> the price of oil moved higher for the fourth session in a row. crude prices up today more than a dollar closing at a five-week high. >>> meanwhile, opec oil meeting today decided to keep production quotas unchanged. the decision comes despite a new burst of oil production in the u.s. and the possible return of iran's oil to the market. steve has more. >> reporter: they decided to keep output levels unchanged, a lot of questions remain for 2014. with the announcement that arir is back at the top table. iran is having report with the west over nuclear issues and potentially in 2014 we could see more iranian oil come to the market. it's technically they hope to put 4 million barrels of oil on the market later in 2014, once sanctions were aid but iraq is producing 3.75, 4 million barrels a day and there are hopes nigeria and libya can produce more oil and this could lead to over surprise at some stage in 2014 but the next meeting scheduled for opec is june 11th. it
Dec 5, 2013 7:00pm PST
after president obama raised the federal minimum wage. workers in 100 u.s. cities called on corporate bosses to increase wages to as much as $15 an hour. so what will that mean for businesses and for those workers? hampton pearson has the story. >> reporter: the biggest push yet for higher pay started early this morning with protests and calls for a fast food worker raise in more than 100 cities, including very vocal disruptors in pittsburgh. in atlanta. >> make our wages supersized. >> reporter: and a large crowd on the move in detroit. mcdonalds is the primary target with calls from coast-to-coast for a super siesized minimum waf $15 an hour, more than double. >> my checks alone don't pay my rent a month. my rent is 1050, i get food stamps and i'm structuraling. >> if they pay us enough money, you know, during the process of it all for what we're doing here today and stuff, then we'll be able to make, you know, pay our bills, you know, and live a descent life and stuff. >> reporter: mcdonalds said our owner operators are committed to providing employees with opportunities to succeed
Dec 6, 2013 6:30pm PST
neighborhoods. wells fargo and citi group had red lining. that says the city, settled minority mortgage holders with loans they couldn't afford. both banks call the charges baseless. >>> while many big banks are cautious about approving mortgages, smaller banks are swooping in. and as diana olick explains, borrowers are paying attention. >> reporter: brian is about to buy a larger home for his growing family just outside minneapolis. this is not his first foray into the mortgage process. >> i had experiences in the past with a larger lender, dealing with home purchases and i just didn't feel like a special person. i felt like a number. >> reporter: so this time he went with water stone mortgage, a small eer lender based in the midwest. >> it's a smoother process. >> reporter: brian is among a growing number of borrowers turning to non-bank lenders and community banks. their share of the market is 60% compared to 39% in 2009 according to inside mortgage finance. >> i think it's a combination of independent mortgage bankers and community banks taking advantage of niches and some larger banks e le